Universal Mortgage & Finance Rates, Fees & Info
LUTHERVILLE, MDLEI: 549300FFPMB9B7FHNR61
Tax ID: 52-2276553
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Mortgage Data
Review & Overview
Universal Mortgage & Finance is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Universal Mortgage & Finance has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, Virginia Beach, Atlanta, and Easton among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Universal Mortgage & Finance has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Universal Mortgage & Finance is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.67% | 7/7/25 |
| 30 Year Conventional Refi | 7.16% | 7/7/25 |
| 30 Year Cash-out Refi | 9.05% | 7/7/25 |
| 30 Year FHA Purchase | 7.65% | 7/7/25 |
| 30 Year FHA Refi | 7.67% | 7/7/25 |
| 30 Year VA Purchase | 7.07% | 7/7/25 |
| 30 Year VA Refi | 6.72% | 7/7/25 |
| 30 Year USDA Purchase | 6.72% | 7/7/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Universal Mortgage & Finance Mortgage Calculator
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This is not an official calculator from Universal Mortgage & Finance. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
99Origination Dollar Volume (All Markets)
$38,725,000Relative Rate
Universal Mortgage & Finance's average 30 year fixed mortgage rate was
6.93%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.38%.
Relative Fees (Closing Costs)
Universal Mortgage & Finance's average total fees/closing costs for a 30 year fixed rate
mortgage were $18,145.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 38 | $13,910,000 | $366,053 | $17,675 | 7.03% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 31 | $13,565,000 | $437,581 | $18,048 | 6.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $2,695,000 | $385,000 | $14,970 | 6.64% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $1,300,000 | $650,000 | $18,052 | 6.25% |
| Easton, MD (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $21,050 | 8.50% |
| Outside of Metro Areas | 3 | $905,000 | $301,667 | $14,882 | 7.04% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $13,494 | 7.31% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $13,009 | 6.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $11,441 | 7.06% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $16,656 | 6.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $19,028 | 5.88% |
| Fallon, NV (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $11,272 | 6.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $11,971 | 6.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $9,259 | 8.13% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $158,706 | 7.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,146 | 7.13% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,599 | 9.63% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,515 | 6.49% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $8,700 | 9.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNIVERSAL MORTGAGE & FINANCE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 55
Similarity Rank: 90
Similarity Rank: 117
Similarity Rank: 168
Similarity Rank: 180
Similarity Rank: 280
Similarity Rank: 320
Similarity Rank: 500
Similarity Rank: 605
Similarity Rank: 703
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 53 | $20,315,000 | $383,302 | $22,450 | 6.67% |
| Conventional | 35 | $13,095,000 | $374,143 | $12,384 | 7.42% |
| VA | 11 | $5,315,000 | $483,182 | $13,635 | 6.67% |
For 2024, Universal Mortgage & Finance's most frequently originated type of loan was FHA, with 53 originations. Their 2nd most popular type was Conventional, with 35 originations.
Loan Reason
For 2024, Universal Mortgage & Finance's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 99 | $38,725,000 | $391,162 | $18,145 | 6.93% |
For 2024, Universal Mortgage & Finance's most frequently cited loan duration was 30 Year, with 99 originations.
Origination Fees/Closing Costs
Universal Mortgage & Finance's average total fees were $18,145, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 67 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 49 | $19,735,000 | $402,755 |
| 7-8% | 30 | $10,950,000 | $365,000 |
| 5-6% | 12 | $5,360,000 | $446,667 |
| Over 8% | 8 | $2,680,000 | $335,000 |
During 2024, Universal Mortgage & Finance's average interest rate for loans was 6.93%, while their most frequently originated rate bucket for loans was 6-7%, with 49 originations.
Loan Sizing
2024 saw Universal Mortgage & Finance place emphasis on $200k-400k loans with 48 originations, totaling $14,940,000 in origination value.
Applicant Income
Universal Mortgage & Finance lent most frequently to those with incomes in the $100k-150k range, with 29 originations. The second most popular income band? $150k-250k, with 22 originations.
Applicant Debt to Income Ratio
Universal Mortgage & Finance lent most frequently to those with DTI ratios of 50-60%, with 19 originations. The next most common DTI ratio? 44%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.85%
Universal Mortgage & Finance has an average approval rate.
Pick Rate
Approvals leading to origination75.76%
Universal Mortgage & Finance has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 99 | $38,725,000 | $391,162 |